Delio vs iCapital
A side-by-side comparison of Delio and iCapital — two options for fund admin & back office. Pricing, features, and honest pros and cons.
Category
Fund Admin & Back Office
Fund Admin & Back Office
Rating
4.0 / 5
4.4 / 5
Pricing
Enterprise / Custom
Enterprise / Custom
Best for
Institutions building private-markets distribution
Established GPs raising from wealth and RIA channels
Key features
- White-label deal distribution and client portals
- Configurable low-code workflow modules
- Digital investment structuring services
- Reporting and lifecycle management
- AI-powered advisor and client experience layer
- Feeder-fund structuring and administration
- Automated subscriptions and investor onboarding
- Lifecycle operations: calls, distributions, reporting
- Advisor education and compliance tooling
- Portfolio analytics and construction tools
Pros
- Proven with major banks and global institutions
- Configurability suits bespoke institutional propositions
- Structuring services extend beyond pure software
- Opens the wealth channel without building ops for it
- Deep integrations across banks, RIAs and fund admins
- Scale player — trillion-dollar platform footprint
Cons
- Built for institutions, not individual fund managers
- Recent rebranding under Helm/iAltA creates some ambiguity
- Economics and minimums suit larger, established funds
- Distribution relationships take time to activate